10/10/2013

Kenya urged to set up diaspora bond.

The ratings agency, Moodys, has urged Kenya to set up a diaspora bond, in order to take advantage of the large number of Kenyans abroad. According to the Central bank, remittances from abroad are nearly 80 billion shillings, but most of the money goes to consumption, rather than to production. A diaspora bondwould help in the building of heavy infrastructure projects.